IMPLANET : Strong 9-Month Revenue Growth of Proprietary Product Lines: +23%

  • Significant growth of +124% in Spine in 3Q, driven by continued development in the US
  • Solid increase in proprietary Knee sales

BORDEAUX, France & BOSTON--()--Regulatory News :

IMPLANET (Paris:IMPL) (Euronext: IMPL, FR0010458729, PEA-PME eligible), a medical technology company specializing in vertebral and knee-surgery implants, today announces its revenue for the 3rd quarter, through 30 September 2014.

Ludovic Lastennet, CEO of Implanet, states: “The revenue recorded over the third quarter is a result of the strategic decision made earlier this year to focus on our highest-value segments. The rapid adoption of JAZZ by spine surgeons and the continual growth of our proprietary Knee implant range have enabled us to record third-quarter growth of +82% and nine-month growth of +46% in these segments. Our intrinsic activity, with the exception of Hip implants, which we have gradually been phasing out this year, recorded nine-month growth of +23%. We have complete confidence in the substantial clinical value of our proprietary JAZZ technology for patients suffering from severe spine pathologies. The JAZZ platform possesses significant development potential in a huge global market, led by the United States where we are methodically deploying our commercialization strategy.

In € thousands - IFRS   2014   2013   Δ
1st quarter revenue   2,047   1,918   +7%
2nd quarter revenue   1,954   1,399   +40%
             
Spine (JAZZ)   393   189   +109%
Knee + Arthroscopy   795   1,077   -26%
Hip   -   379   -100%
Total 3rd quarter revenue   1,188   1,645   -28%
             
Spine (JAZZ)   1,272   569   +124%
Knee + Arthroscopy   3,152   3,038   +4%
Hip   765   1,356   -44%
9-month revenue (to 30/09/2014)   5,189   4,962   +5%

Third quarter of 2014: JAZZ sales multiplied by 2.1

Over the 3rd quarter, Implanet recorded revenue of €1.2 million, down 28% (from €1.6 million in 3Q 2013), impacted by a negative base effect in Hips, which contributed €379 thousand to revenue over the period and holding of a €350 thousand arthroscopy implant order due to a subcontractor delay. Sales of this arthroscopy product range fell 78% in 3Q 2014 to €157 thousand (from €699 thousand). These products will be delivered and billed in 4Q 2014.

As a result of the strategic decision to focus the product platforms, the Company recorded +82% growth of its proprietary product range: JAZZ sales (Spine) more than doubled to €393 thousand (from €189 thousand) and sales of Knee surgery implants were up +69% to €638 thousand (from €378 thousand).

Over the quarter, Implanet sold a total of 969 JAZZ implants (from 307), with over 150 surgical operations carried out.

9-month revenue: further growth despite the impact of withdrawal from the Hip market

Between 1 January and 30 September 2014, Implanet realized substantial JAZZ sales revenue of €1,272 thousand, 2.2 times the figure recorded a year earlier (€569 thousand), distributed in a balanced manner between France, the United States and the rest of the world. Over the period, Implanet sold 3,064 JAZZ implants (compared with 1,829 for the whole of 2013).

Over the first nine months of the year, the proprietary Knee implant platform achieved 19% growth to €1,986 thousand (from €1,664 thousand). To strengthen its positioning on this segment, Implanet has intensified its innovation program through the deployment of a new ligament rebalancing system and the development of a revision implant. Over the period, sales of arthroscopy products decreased by 15% to €1,165 thousand (from €1,374 thousand) impacted by the volume of business in the third quarter, while Hip sales totaled €765 thousand, a decrease of 44% (from €1,356 thousand), as expected.

Between 1 January and 30 September 2014, Export revenue totaled €2,022 thousand and accounted for 39% of sales.

About IMPLANET
Founded in 2007 and based near Bordeaux, IMPLANET is a medical technology company that manufactures high-quality implants for orthopedic surgery. Its flagship product, the JAZZ latest-generation implant, aims to treat spinal pathologies requiring vertebral fusion surgery. Protected by four families of international patents, JAZZ has obtained 510(k) regulatory clearance from the Food and Drug Administration (FDA) in the United States and the CE mark. IMPLANET employs 45 staff and recorded 2013 sales of €6.7 million.
For further information, please visit www.implanet.com

IMPLANET is listed on Compartment C of Euronext™ Paris.
Mnémo : IMPL - Codes ISIN : FR0010458729

Contacts

IMPLANET
Ludovic Lastennet, Tel.: +33 (0)5 57 99 55 55
CEO
investors@implanet.com
or
NewCap
Investor Relations
Florent Alba, Tel.: +33 (0)1 44 71 94 94
implanet@newcap.fr
or
NewCap
Press Relations
Nicolas Merigeau, Tel.: +33 (0)1 44 71 94 98
implanet@newcap.fr

IMPLANET